Ecuador prayed
15-03-2010 golden marketActuality, news Ecuador, and press clippings on the mining and the golden market in Ecuador.
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11-03-2010
Ecuador - Kinross Gold says that production climbs over new projects
Kinross Gold hopes to add approximately 1.000.000 of ounces to his golden production in 2015 and complete a prepracticality study for his project Fruit of the North in Ecuador at the end of 2010. The executive president of Kinross Gold, Tye Burt, said that since one incorporated the company in 2005, the signature has raised his production in close to 1.000.000 of ounces. Now more of ounces are in the second wave of growth, which will add another million.
Kinross hopes to produce close to 2.200.000 of ounces of equivalent gold in 2010, almost in line with the 2.240.000 the produced ones last year 2009.
The production of additional gold would be impelled by the progress of new projects, particularly Wolf Mars and Hill Casale in Chile and the deposit Fruit of the North in Ecuador.
19-01-2010 the Telegraph
Ecuador - the State prepares several mining golden projects
The investments focus on metallic and not metallic minerals. Private roads plan his plans.
This year 2010 will be of decisions in the mining activity an ecuadoriana. Not only that the Mining Domestic enterprise (ENAMI) will begin to work with proper projects, but the big companies of the sector plan his timetable to go on in two or three years to the development of the resources found in Ecuador. The minister of not Renewable Natural resources, Germanic Did, emphasized that the ENAMI has until now several projects in folder. But it will not concentrate only on the exploration and development of cash, like gold, copper and silver.
The deposit White Rio, underground mine, 400 meters under soil, has reservations proved by 700.000 golden ounces in a 5.799 hectares extension. This deposit would be exploited initially between nine and 10 years.
The deposit Fruit of the North, in Zamora Chinchipe, where Aurelian thinks that there are 13,7 millions of gold.
08-01-2010
Ecuador in numbers
The government of Ecuador has inaugurated a new web site “Ecuador in numbers” that offers the access online to all the statistical information as regards Ecuador. In the different categories they can turn social statistics, economic statistics, financial statistics, numbers of the week, etc.
07-01-2010
Ecuador - Inflation closed in 4,3 % in 2009
The National Institute of Statistics and Census (INEC) informed that the year 2009 closed with an inflation of 4,31 %, almost half of the registered on having finished the year 2008, which was 8,83 %. The inflationary index registered a gradual descent during the year 2009. There were even 4 consecutive months, from May until August, 2009, when the inflationary index was negative.
According to the INEC, in December, 2009 there registered an inflation of 0,58 %, bigger than the registered one in November, 2009, of 0,34 %.
Between the products that more affected in the inflationary upturn the food is, basically the potato, the preys of chicken, the green banana, the oranges, apples, etc.
For 2010, the Government of Ecuador waits for an inflation average of 3,35 %.
04-01-2010 Gov Ec
Ecuador - Government believe company to administer the mining sector
Ecuador has authorized the creation of the Mining Domestic enterprise, a state entity, which function will be to manage the incipient mining activity of the country in all the operative processes. The president Rafael Correa impels the development of the large-scale mining activity in the nation, for which it has set new laws of the game, between which it includes a major state control of the activity and the privileges payment in tasks of exploration and development. The Mining Domestic enterprise has been created like public law society with juridical personality, proper patrimony, provided with budgetary, financial, economic, administrative autonomy and with management. Also he will be able to look private associates or publics of other countries or companies specializing in the development of the activity. The directory will be integrated by the Minister of not Renewable Natural resources, Secretary Nacional of Planning and a delegate of the president. To the moment there exist approximately 900 mining authorizations granted in Ecuador.
24-12-2009 Kaos in the Network
Ecuador - Closing radio Arutam: "A Christmas present for the foreign mining companies”
Supposedly it has done an investigation to itself and one has found responsibilities in the Radio Arutam of having incited to the mobilizations of last October. We know that the messages that the Radio Arutam expresses are in language Shuar, says Mister president: How do you know that his messages were incitements?. You speak Shuar?. Who translate the messages of the above mentioned radio?. How be so sure Mister president that his translators are telling him the truth?. It will not be that are his translators any citizens who are sealed off in his Government, but there are the voice of the foreign mining companies and do they work systematically for these interests and not for our homeland?. It must remain clear that, with the closing of the Radio Arutam, it does not gain in absolute the Ecuadoran village, but yes they gain the foreign mining companies as the ECSA, AURELIAN-KINROSS to whom the President Thong of way repeated to saying not to know. Rare what that a President of the size of Rafael Correa does not know the foreign companies that will take the best wealth of the Ecuadorians in the next 30 years. Mister Presidente, we do not believe to him that you them do not know these companies, rather we are sure that you work for them from Carondelet. What it has just done with the Radio Arutam, is not but the fulfillment of another errand any more of the stated companies. That is to say the decision to close the Radio Arutam does not come only from Carondelet, but comes from the foreign mining companies. What good Christmas present for the looters of our homeland, Mister president.
05-12-2009 the Telegraph
Ecuador - reactivated the local mining exploration
The publication in the Official Record of three regulations of the Law of Mining allowed that the mining activities to be resumed in the country after 19 months of suspension. The first one in reactivating his works was the company Kinross-Aurelian, which from the middle of last November put in functioning three augers in his deposit Fruit of the North, located in Morona Santiago.
11-11-2009 BBC
Ecuador and the USA, closer in commerce
A delegation of the government of Ecuador met between Monday and Tuesday in Washington diplomatic and commercial representatives of the United States in what it is seen like a "reapproach" between both countries. But for the Ecuadoran representatives what yes must remain clear is that these conversations “do not talk each other of free trade”, a few negotiations that remained filed from shortly before the arrival to the power of the president Rafael Correa. “Ecuador does not think, does not inhale and does not have intention of signing a free trade agreement because he wants to replace it with agreement for the development … has no link with that”, made sure to BBC World the ambassador of Ecuador in Washington, Luis Gallegos.
11-11-2009 KaosEnLaRed
Ecuador - New Plan “Condor“ … miner
Now, the government knocks down the process of established dialogue of mutual agreement with the indigenous movement. In the last days, in Ecuador, the SENPLADES, he has announced that the project “Condor“ of Kinross, as well as the projects Panantza and San Carlos of Current Resources, they have been included between the priorities of national investment. For this, a group of multisectorial work has been content in the Department of Mines and Oils taken charge of the development of the called “belt of the copper” to the southeast of the country. In 2005, Kinross moved back from the project Kamoto under the pretext that it had "discovered" that the deposit was of copper, metal that is not of his interest. Nevertheless, Kinross sold his actions to a minuscule company of Toronto called Balloch, whose actions rose vertiginously in the stock exchange of this city. Kinross benefited from this speculative deal gaining US$ 570 millions on deposits that are in a country destroyed for 8 years of civil war.
07-11-2009 the Universal one
Rafael Correa will publish a book on the recent history of Ecuador
The Ecuadoran president Rafael Correa will publish in December a book in which it treats the institutional crisis of the country in last half a century and the changes introduced by his government, as he announced this Saturday.
The title of the book is “Ecuador: Of Banana Republic to not Republic”.
05-11-2009 the Commerce
Ecuador - Exportation of minerals will begin very probably in the year 2012
Ecuador might begin to export minerals from 2012 after propping the incipient activity up by means of strategic alliances with state signatures and a major control of the participants of the sector, said the president Rafael Correa. At present, the activity is in an exploration stage and supports authorizations with Canadian companies to develop some golden projects, copper and silver, key for the Andean country. “We cannot be seated beggars in a golden sack”, he added Thong.
05-11-2009 the Commerce
Ecuador - The Mining Law is already operative
The president Rafael Correa signed yesterday the decrees for the regulation of the mining sector of the country. From Zaruma, province of The Gold, the First Chief signed the decrees of promulgation of the General Regulation to the Law of Mining, the Special Regulation of Promotion to the Small Mining and Handmade Mining and the Environmental Regulation for the Mining Operations. The small mining generates 400 000 jobs in the whole country. The mining district Portovelo-Zaruma is one of the biggest in golden reservations. The president Correa said that there have been re-spilled 3 000 of 4 000 granted mining authorizations.
17-10-2009 Reuters
Ecuador will repatriate more than 2.200 million dollars of international reservations
Ecuador will repatriate 2.235 million dollars of international reservations that it supports in the exterior, a total superior to 1.600 million dollars that he had announced initially. Ecuador faces a deceleration of his economy and an increase of the unemployment and of the poverty, for the minor demand of his products in the exterior and the minor remittances of his workpeople in the exterior. Thong said: "The accounts give us 2.235 million dollars, imagine, that we can already bring to the country. It is ordered to bring it to the country, there it is for our hydroelectric ones, the highways, the bridges, the schools, it is for the benefit of the Ecuadoran people.” Thong pointed out that the number also includes the liquid patrimony of proper Banco Central, which also it goes to use not to feed the one that the chief called “a bureaucracy“ of the entity. For having an economy dolarizada, the chief told that the international reservation of free availability is a saving of all the Ecuadorians, which can be used to attend to the enormous needs for his 14 million inhabitants. The minister of Finance, Elsa Viteri, said that the first 500 million dollars would return home next week, to attend to the expense of the Government in infrastructure and to face the effects of the world crisis.
23-09-2009 SPD
Government of Ecuador asks for change in International Monetary Fund (IMF)
The Ecuadoran minister of Economic Coordination, Diego Borja, he said on the 22nd that the International Monetary Fund (IMF) must change and be reoriented to the targets for which it was created. “We believe that there are mistakes of the IMF. The IMF has to change, it is not an organization of four countries, it is a United Nations Organization and it has to be to the service of the basic targets for which they created it. There is not chance that to the countries that we have no alignment with the IMF, that we have politics that rather are faced to benefit the peoples and not to the neoliberal conditionality, they always put minor economic growth rate to us. The IMF determines growth rates limited to countries like Argentina, Ecuador and Venezuela, although in practice it is demonstrated that they are growing. In 2008 the IMF announced a growth of 2,9 % for Ecuador, when in fact it grew 6,5 %.” the official considered in declarations spread by the state channel Ecuador TV.
20-08-2009 gov-ec
Ecuador - Department of Mines and Oils announces the first state company of mining
The Ecuado government is going to create the Domestic enterprise of Mining, the first one in his genre in Ecuador, has announced it That the minister of Mines, Germanic I Do, that also he has told that the new organism is going to have to charge the project execution in a sector that has proved to be little developed in the country. “We are either in constitution process, either the ministerial creation agreement was signed and we hope that in next 2 ó 3 months we already should have the company completely structured”. Spotted it told that the target is to be provided with “a big state company” that could handle mining projects and look for strategic alliances with other countries.
13-07-2009 the New Businessman
Ecuador - the Minister of Industries treated on Investment topics with Canadian Mining Company
Dominic Channer principal of the company, told that the timetable of the mining project that will be located in Zamora Chinchipe, will allow to initiate in 2013 a development of 500 million golden ounces per year, increasing his production later to 1 million ounces, something that very few mines in the world can reach.
17-03-2009 Reuters
Ecuador raises mine-layer forbids to Kinross and Current
Ecuador raised one it forbids to Kinross and Current, therefore two Canadian mine-layers will be able to resume immediately his operations in the South American country. The official, who asked not to be identified for having no authorization to speak publicly, added that the authorities must visit the places where IamGold, International Minerals and Dynasty realize works before deciding his also it raises his forbids.
12-01-2009 I govern Ecuador
Ecuador approves mining law despite indigenous rejection
The law was approved on January 12 in the National Assembly, the legislature that counts with most of the party Alliance Country, of government. The president Rafael Correa still does not solve if it will promulgate, modify or push the norm back, for which it has term until February 12.
10-11-2008 presidency
Ecuador will present this week a new mining law
The Ecuadoran president, Rafael Correa, the leftist ex-Secretary of the Treasury of ideas, has said that he wants to make detach the precious metals mining to diversify the economy dependent on the oil and to share the profit with the citizens in poverty situation. The weekend warned to his Allied Forces in the legislative assembly not to realize deep changes to the project. “If these fund concepts change I will veto completely the law and will order it to popular consultation”, he said Thong during a weekly press conference on Saturday.“ I ratify the political will of the national Government to develop the mining sector”, he added. The new mining law is key for the foreign companies that have found big stock of gold and copper in the south of Ecuador. If it is approved, the law will raise a prohibition of the Government on the activity of mining development approved in April that affected the prices of the actions of such Canadian mine-layers like Current Resources and Iamgold. One hopes that the law should be approved beginning of 2009.
06-10-2008 PrecioOro
Ecuador and Peru strengthen the frontier relation with a mining regeneration
The Government of Ecuador impels a project of mining regeneration on the border with Peru to strengthen a Binational Plan of Development, announced the undersecretary of Environmental Protection of the Department of Mines and Oil, Lucía Ruiz.
25-07-2008 PrecioOro
Ecuador - Kinross offers 1200 million USD for mining golden project in Zamora Chinchipe
The Canadian Kinross offered USD 1.200 millions for the actions that Aurelian has in the project located in Zamora Chinchipe. The offer includes the buy of 100 % of his actions.
15-03-2008 TO F P
Ecuador - Discovered the biggest reservation of gold and silver in 2007
The mine-layer of Canadian capital Aurelian Ecuador discovered in 2007 the biggest deposit of gold and silver in the world located in the Ecuadoran south with reservations of 36,1 million ounces, a find that cost him the international recognition, informed the company. “The team Ecuadorian - Canadian of the company Aurelian Ecuador was rewarded in Canada by the discovery of the biggest world deposit of gold, during the year 2007, which is estimated in a deposit of 13,7 million golden ounces and 22,4 million silver ounces”, pointed out the company.
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